Secured Loans 2019

BrassicWoman wrote: »

Decent job, owns property... sounds an ok risk. Don’t overthink it just apply with your bank?

although it sounds ok on the surface, there's two points here that make me think it may not be one for every lender, so may be better to use a broker.

the first is the relatively small amount, from my experience not all high street banks will lend 15k, so would be worth checking before applying.

the second point is that part of the property (or all of the property?) is rented out. depending on whether this is on an AST / rent a room agreement again it could be problematic when trying to obtain a residential mortgage, depending on how it's pitched to the lender.

i'd also only go down the mortgage route once the unsecured loan route had been tried. depending on what the money is for and how urgent, it's probably just better for the OP to save as much as possible and try to pay for it themselves, rather than taking out finance for the project.